Congress and Budget Blithering

I can't believe I haven't posted here at all this year. Just like many of the people who would take the time to read this post, I am a working stiff. I have work off-the-books overtime just to keep my job, and I have to enroll in courses and study just to prepare for the time when I may no longer have a job, which may be soon. The economy isn't getting any better, and I need to brace myself for when I have to start collecting unemployment just like many of you are or will be.

I am only posting here now because I am so upset about the banter between President Obama and Speaker of the House John "Bonehead" Boehner over raising the debt ceiling and passing a budget. President Obama has been very weakly trying to get across the message that we need to tax the wealthy, while Boehner very loudly states he just wants budget cuts, cuts and more cuts.

Boehner's Congressional District suffers over 9% unemployment just like the rest of the country, how high does unemployment have to get before someone runs against this Bozo and takes his seat away from the Nazi Republicans out to destroy this country.

Federal budget cuts will just amount to more unemployment. The government needs to step in an create jobs, not take more jobs away. Already the US Post Office plans to cut thousands of jobs, and if Boehner gets his way more Federal jobs will just disappear, but no one is calling him a "job killer" the label that House Republicans put on the health care reform bill. Let's face it private industry is not going to pick up the slack for all of the government jobs we are going to loose with the substantial budget cuts that Republicans pose.

Actually, private industry will wind-up suffering as well, as budget cuts result in the end of government contracting, and laid-off federal employees will stop spending money in the retail and food markets which will beget more lay-offs. The unemployment that the budget cuts will create will cause such a great feedback loop of more unemployment that the economy will have no other recourse but to crash again, this time probably harder than before.

In their book "Aftershock: Protect Yourself and Profit from the Next Global Meltdown," authors, David and Robert Wiedemar and Cindy Spitzer predict that government jobs will be a safe haven from the next big ecnomic downturn which they predict will befall us within the next couple of years. (They were right about the real estate bubble in a previous book published before the crash, but who couldn't see that coming?) With all of the Federal spending cuts coming their will be no save haven in Federal jobs or any government jobs for that matter.

Let's face it, there is a huge budget deficit and the only way to close the gap is raise revenue and tax the crap out of the rich and add large tariffs to imported goods, something Congress and the President are very reluctant to do because the rich have them in their pockets.

You know the wealthy have Boehner in their pocket because he comes from a fairly rural district with 9% unemployment. A few of his siblings are even unemployed according to Wikipedia. With his background he should really be a Democrat, but you know the wealthy and the corporate interests are bank rolling him, so he will keep fighting to run this country into the ground.

If the Republicans have their way and all we have is cuts, cuts and more cuts to the budget in a time where the Federal government really needs to step in and spend money to create jobs, you are going to see an economic collapse greater than the one we saw in 2008.

Obama may not increase taxes on the rich.

President-Elect Obama's administration is already planning an economic stimulus package that will give the middle class additional tax cuts and leave the Bush tax cuts on the wealthiest Americans alone through 2010.

Why do people still think that trickle-down economics theory works? If you let wealthy people hang on to their money that's exactly what they will do. They hoard it, that's what they love to do. They won't spend it, and it definitely won't trickle down to the poor and middle class.

I think the government should start taxing wealthy individuals' net worth, that's all the assets that you have after you factor in your liabilities. And how much money do you think you need to live comfortably? I think the government should start adding on taxes on individuals with a net worth of over 5 million dollars. Income tax just taxes what we make each year
While we're at it, let's make it illegal for Americans to keep money offshore. This is how rich people avoid paying taxes on interest.

Also there is controversy over raising corporate taxes in such bad economic times. I think corporations have to be given breaks only when they show that they are creating jobs for Americans and not cutting them. There should also be tax penalties for companies that have CEOs and other high-ranking employees that make an inappropriately large salary as compared to other employees of their company. Let's force corporate America to spread the wealth around within their own ranks.